 How can i be safe and where can i cash money orders sent to me in large sum (3000) to pay their bills? |
| They are out of the country on business and asked me to pay there bills for them. I want to do this safely as they are sending me funds from overseas. Will saving all the reciepts.. help..?... |
|
 Help, I need $3000? |
| I am a 45 year old disabled LPN. My husband has wracked up a credit card amount of $3000. I have always paid my bills on time since I got away from him but he somehow got one of the older cards that ... |
|
 How to start paying off credit card debt? |
I have 5 credit cards: 3 are nearly maxed out; the other 2 each has a balance that's half of the total credit limit on that card.
Which is better to do: a) pay off the remaining ... |
|
 How can I convince my mom to let me withdraw money? |
| I'm thirteen, and i have had to put half of what i make from a job in my bank account. i have a lot of money in my bank account. and i want to take some money out for spending. but my mom won... |
|
 How to make Money Online Easily? |
| Please teach me. I just need a Money from my birthday.... |
|
 $0.99 charges on my debit card? |
| i bought some songs on iTunes with my debit card and i noticed that when i log on to my online banking account it doesn't show up in my account activity, is it because its a small charge?... |
|
 Do you have any fund-raising ideas for a Missionary Trip? |
My husband and I are going on a Mission Trip to Mexico around Christmas. This will be our 3rd trip. It will cost us each $895, for a total of $1790.
Do you know of any fund-raising ideas ... |
|
 I need money FAST? |
around 400 dollars in the next month n a half
i have no family
i keep looking for a job but noone seems to want to hire me
help please
this is a REALLY big deal
Additional D... |
|
 My husband is so immature when it comes to money, so, what do I do? |
| My husband and I recently got married in March and he likes to spend money. He doesn't understand that there's only a set amount of money that can be used, and if you go over that limit, ... |
|
 Financial help - finding a loan? |
| I am trying to find a loan for $2000, but I do not want to go through a pay day loan. I have bad credit so I am not eligible for a loan through a bank. Does anyone know how to go about getting a loan ... |
|
 My atm card will not withdrawl money? |
| I looked at my online account this morning, and i had money direct deposited into my account. I went to use my atm card to withdrawal money and it denied my transaction. I went home to check my ... |
|
 How do you get a mortgage with bad credit an a small amount for a deposit? |
| Neded a mortgage but have got a fairly poor credit rating and just a small amount of cash for a deposit.but do have a well paid full time job!but do you know of anyone that can help me?... |
|
 What is the minimum payment for a credit card purchases? |
| i'm planning to buy a car and after deducting down payment 6000 dollars will be left and my dad will pay that amount with his credit card. i just want to know how much the minimum payment for ... |
|
|  |
ash | Is it illegal to take your bank account negative? |
so I am wondering if it is illegal to take your bank account negative? Im about 200 in the hole, and I'm afraid of being arrested or charged or something, is this possible? what will happen?
Additional Details
oh i wanted to add it is from debit purchases, bills ect.. no checks. thanks |
 |
 
janeausten
|
It depends really. You should go to your bank and see if they can help you out because continuing to keep your account in a negative balance will result in you incurring lots of hefty fees. My bank has a program to help out those who are substantially overdrawn. (Banks' see overdrawn accounts like an unsecured loan... and they will treat them as such.) We allow them to make monthly payments on the balance while keeping their account open.
Your bank can choose to pay or return your uncollectible items. If they are returning your checks (transactions), then you could be in quite a bit of trouble. Your best bet is to go and speak to someone at your bank - explain your situation to them and ask for their help. More often than not, they will want to work with you to fix the situation - otherwise the bank will take a loss on your account and all that will happen to you is the negative balance will be turned into the credit bureau and you will be responsible for paying any returned items to the stores in which you wrote the checks. If you need any more advise, please feel free to email me. |
|
stinkypinkyteddybear
|
Not illegal but you will face charges (financial ones) |
|
John G
 |
The bank can charge you fees when you are in the negative up to a certain amount. (usually they charge 5 times and then stop). It is not illegal, but obviously they want you to pay it back.
They will try to collect from you eventually, but it will be a long time before they do so.
It is not illegal, and you can't be arrested. |
|
Alice C
 |
They wont arrest you! You may get a fine though. Depends whether you have an overdraft, and what fees and charges your bank has. If you live in the UK and they charge you a fine, there may be a way of claiming it back - type money saving expert into google and that should take you to Martin Lewis' website, he is the man when it comes to money issues. |
|
Southern Belle ☆
|
No. It's not illegal to overdraw your account. However, it is illegal to write bad checks. |
|
Ankhesan amun
|
It's not technically illegal because it happens to many people all the time, BUT, $200 is pretty large. If you are passing checks knowingly then you are definitely begging for trouble...because THAT is illegal.
You should take care of this asap, because it can affect your credit if the bank decides to take action against you...and apply for an overdraft after it's cleared up. It will function much like a loan, and there will be interest and service charges but it will at least give you a hint of security that if you are short a few bucks it won't be a big deal. |
|
yazgoeskaboom
|
If you don't pay it after a couple of months you'll be on chexsystem and then you won't be able to open another bank account. |
|
floopus.control
|
It isn't illegal, but it is very bad. They can charge you the specified overdraft fee, and can call collections offices on you, which can take anything they want to make the bank break even. |
|
Grace S
 |
no, that just means your in debt |
|
It's me!!
 |
it is illegal to write bad checks. |
|
JM
|
you will not be arrested as long as you are not continually writing bad checks. if you need to write a check and you have overdraft on your account, then they will cover it (most banks have up to a certain limit though) but you will be charged a fee and you are expected to deposit money as soon as possible to bring your account out of the negative.
you cannot go and withdrawal money taking your account negative and you cannot use a debit card because it will be declined. you also need to verify you have overdraft on your account, if you do not the check will just bounce. |
|
geturpopcrnready
|
No its not illegal but it can hurt you in the long run. I work at a bank and if your account stays in the negative for a certain amount of day then what will happen is the bank will pay your negative balance and close your account. Then the balance that you owe the bank will be sent to a small collection agency and they will also put you in a system that prevents you from opening another account at another bank if you try to skip out on it. So you will still have to pay the bank back but if it goes to a collection agency, the agency will normally want you to pay 60% of that balance and then the bank will want there 40%. So i would advise you to pay the bank the money. |
|
rtfm
|
Technically, it *is* illegal to knowingly pass a bad check, but people usually aren't prosecuted for it -- as long as they make good with the bank, including all penalty fees, within a reasonable time.
|
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
13 | 16 minutes(s) ago
| | | |
13 | 25 minutes(s) ago
| | | |
13 | 3 hour(s) ago
| | | |
14 | 8 hour(s) ago
| | | |
13 | 9 hour(s) ago
| | | |
13 | 10 hour(s) ago
| | | |
13 | 2 day(s) ago
| | | |
13 | 6 day(s) ago
| | | |
13 | 1 week(s) ago
| | | |
13 | 2 month(s) ago
| |
|
Homepage 
Financial
Forum 
Personal Finance 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
